AFRICAN lithium production is poised for a remarkable upswing in 2024, nearly tripling compared to the previous year, as per projections by Benchmark Mineral Intelligence. In a strategic shift, the region’s contribution to global lithium production is anticipated to surge from 4 percent in 2023 to a substantial 10 percent this year, propelled chiefly by heightened Chinese investment across the continent.
Chinese entities have established a virtual monopoly on lithium extraction in Africa, with over 90 percent of the projected lithium supply for the current decade originating from projects partly owned by Chinese interests, Benchmark estimates.
Zimbabwe emerges as a focal point in this burgeoning lithium landscape. The country, already among the seven largest lithium producers globally, is anticipated to play a pivotal role in the projected surge. In 2023, Zimbabwe contributed 3,400 tonnes to global lithium production, with much of the increased supply expected to stem from its lithium-rich reserves.
At the forefront of Zimbabwe’s lithium production is the Arcadia lithium mine, owned by Zhejiang Huayou Cobalt. Renowned as one of the world’s largest lithium-producing operations, the mine boasts a capacity of up to 450,000 tonnes of lithium concentrate annually, underscoring Zimbabwe’s significance in the global lithium market.
The intensified Chinese interest in African lithium reserves aligns with China’s broader strategy to secure critical minerals essential for advancing clean energy technologies. Despite possessing only 11 percent of global lithium reserves, China dominates the refinement sector, processing 60-70 percent of the metal worldwide, as highlighted by the US Geological Survey.
As Africa emerges as a key player in lithium production, driven by Chinese investments, the continent’s role in the global clean energy transition becomes increasingly pronounced, underscoring the critical nexus between lithium production, Chinese investment, and clean energy advancement.